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May 2025
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It’s Time to Dust Off Our Estate Plans!
Why Every Estate Plan Needs a Check-Up This Spring
With the arrival of spring, it’s the perfect time to declutter, refresh, and reorganize — not just our homes but also our important legal documents. Just as we wouldn’t let dust and clutter pile up in our living spaces, an estate plan deserves regular attention to ensure it remains aligned with our goals and evolving life circumstances. I often tell our clients that updating an estate plan isn’t about making drastic changes every year; rather, it’s about confirming everything still functions as intended and avoiding any unpleasant surprises down the road. Many assume once they’ve completed their estate planning, they can set it aside indefinitely. However, estate plans are not static documents — they should evolve as your life does. Even if nothing major has changed in your situation, a periodic review is essential. Laws change, financial circumstances shift, and people may move or restructure assets without realizing the potential impact on their plan. I recommend our clients review their estate plans at least every few years, even if everything seems the same on the surface. That said, if there has been a significant life event, a review isn’t just advisable — it’s critical. A move to a new state, a marriage or divorce, or changes in business interests can all affect how an estate should be structured. Additionally, health changes, whether one’s own or a loved one’s, may prompt adjustments to powers of attorney, health care directives, or trust provisions. These events can dramatically impact how an estate plan functions when the time comes to execute it.
One of the most common oversights I see is when our clients change how their assets are held but don’t adjust their estate plans accordingly. This can create a logistical nightmare during estate administration. Beneficiary designations, ownership structures, and trust funding must be synchronized within a plan. Without this alignment, assets could end up bypassing intended beneficiaries, creating tax complications, or even requiring a probate process that could have been avoided. I’ve seen too many families deal with unnecessary stress and financial burdens because an estate plan wasn’t properly maintained. However, I’ve also seen firsthand the relief that comes from a well- maintained estate plan. I recently worked with a surviving spouse whose late husband had a habit of actively trading stocks. Because he took the time to meet with us regularly for estate plan reviews, everything was structured properly, making the transition after his passing incredibly smooth. His wife didn’t have to scramble to piece things together; instead, she could grieve and focus on healing. This preparation lifts an enormous burden off loved ones and is precisely why estate planning is not only for protecting assets but also for providing peace of mind. I firmly believe estate plan reviews are integral to ensuring a smooth transition for our clients’ families. That’s why, at our firm, we never charge our clients for review meetings . They will never receive a bill for coming in to check if their estate plan is still working as intended. The key to success in estate planning is maintaining it over time. We want our clients to feel comfortable coming back for regular check-ins, making necessary updates, and ensuring that, when the time comes, their wishes are honored exactly as they envisioned. Spring is all about renewal, and there’s no better time to give your estate plan the attention it deserves. Whether it’s been a few months or several years since you’ve last reviewed your documents, now is the perfect time to take another look. So, as we tackle spring- cleaning, let’s consider adding “estate plan review” to our to-do list.
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Common Estate Planning Mistakes
Are You Making One?
Putting together an estate plan is like writing the final chapter of your book, and you don’t want to make your book a horror story. Avoiding common estate planning mistakes will ensure your family isn’t confused, stressed, or surprised when it comes time to fulfill your final wishes. Forgetting to Keep Your Plans Fresh Life changes quickly. Marriage and
DIY estate plan. But like many people who go the do-it-yourself route, her situation didn’t work out well. Remember, you’re not a lawyer, and
mistakes are easy to make when you use online tools for help. Instead of trying to save a few pennies, talk to a lawyer and get your plan right. Naming the Wrong Executor
The executor of your will has an important job. They handle paperwork, settle debts, and ensure assets go to the right people. People often base their choice of executor on family connections only, but you must also consider qualifications. For instance, your eldest child might be a logical choice. But what if they live thousands of miles away and haven’t managed their finances well? It could mean delays, mistakes, and a major headache for everyone involved. The best move is to choose a reliable and organized executor, even if they’re not a family member. What story will you leave behind? Keeping your plans updated, seeking professional help, and making careful decisions will ensure it’s the one you want.
divorce, births, and property sales are just a few events that can affect your estate plan. It’s easy to forget to account for these changes, but the result won’t be easy for your family to forget. Imagine leaving all your property to a former spouse because you never updated your will. This might sound crazy, but it happens. If you created your estate plan years ago and never updated it, refresh it now. Creating a DIY Disaster It’s easy to be attracted to a DIY solution. They’re convenient and appear affordable, and who wouldn’t want to save time and a few bucks? Even Aretha Franklin, the “Queen of Soul,” had a
BEYOND THE WILL DO YOU NEED A HEALTH CARE PROXY?
It can be difficult to think about, but imagine being rushed to the hospital after a sudden accident. You’re unconscious and unable to speak. Do you know who will make critical decisions on your behalf? This is the role of a surrogate decision-maker. If you haven’t created a health care power of attorney naming a health care proxy, default surrogate decision-making will come into play. Most of the time, your next of kin will fill this role. State statutes vary, but the order of priority typically starts with a person’s spouse or domestic partner. From there, it moves to adult children, parents, and siblings. Some states also authorize close friends with default surrogate decision- making powers when others with higher priority are unavailable. Preparing for the Unexpected The process for granting decision-making powers in critical health care situations
is well thought out but imperfect. What happens when there are complex family dynamics or an estranged relative is legally first in line to make decisions? What about family members who can’t agree? Real-life situations can get complicated fast. Fortunately, default surrogate decision- makers must consider the known values and wishes of the person they represent. Health care professionals must also follow these wishes, which they don’t always know. This is why planning is essential — so your wishes are understood and respected. Avoiding Confusion and Uncertainty If you have preferences about medical treatments, don’t keep them a secret. Discussing them with your closest friends and family members is always advisable so everyone understands and is on the same page. Designating a health care proxy takes things a step further. You can choose
anyone as long as they are competent and at least 18 years old. Many people also choose an alternative surrogate to make decisions if their primary choice is unavailable. The designation document must be signed in the presence of two adult witnesses, although requirements may vary by state. Reviewing designations every few years and after major life events will keep them current. As with all long-term plans, taking a few steps now will give you peace of mind and ensure your wishes are clear. In the case of surrogate decision-making, planning also ensures your voice is heard even when you can’t speak for yourself.
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The Surprising Military Origins of Muzak From Battlefields to Background Beats
Military Signals to Background Music Squier saw an opportunity to create a system where music could be transmitted over electrical lines, allowing people to listen to tunes without needing a radio. In 1922, he founded Wired Radio and later rebranded the company Muzak — a name inspired by the popularity of Kodak.
Ever found yourself humming along to an elevator tune on the way up to the 10th floor? Muzak is background music no one asked for but (almost) everyone appreciates. It’s the soundtrack of elevators, shopping malls, and office buildings. But its origins aren’t in retail or corporate spaces. Instead, the story begins with a high-ranking U.S. Army officer whose fascination with communication technology
affected more than just military strategy. The Mind Behind the Innovation
General George Owen Squier built a career that bridged military and scientific innovation. Born in 1865, he was a trained electrical engineer whose expertise shaped early military aviation and communication systems. Squier’s work in communications didn’t stop at improving battlefield coordination. He constantly searched for new ways to make information travel faster and more efficiently. During World War I, he led the U.S. Army’s Signal Corps, focusing on radio transmissions, telegraph signals, and a technique called multiplexing, which allowed multiple messages to share a single wire. Squier’s advancements streamlined military operations and had an even broader impact. His research in signal transmission laid the groundwork for innovations that later extended into everyday life.
Initially, Muzak focused on bringing music into homes, but the company later shifted gears to find a niche in commercial spaces. Businesses quickly realized that carefully curated background music could enhance productivity, ease tension in public spaces, and subtly guide customer behavior. A Lasting Legacy Squier may have been a high-ranking Army officer, but his vision went beyond the military. His pioneering work in telecommunications influenced modern streaming, workplace productivity, and even the psychology of sound. What started as an experiment in transmitting music through power lines became a global phenomenon that still shapes how we hear the world today.
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INSIDE THIS ISSUE
The No. 1 Estate Planning Habit Ensuring a Stress-Free Future
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Estate Planning Pitfalls You Need to Know Don’t Leave Medical Decisions to Chance
Meet the General Behind Elevator Music
Top Budget Apps to Take Control of Your Finances
BUDGET SMARTER, NOT HARDER The Best Budget Apps to Keep Your Finances in Check
YNAB: For Serious Budgeters YNAB (You Need a Budget) is ideal for those who want complete control over their finances. Using a zero-based budgeting system — income minus spending and savings should equal zero every month — this app ensures every dollar has a purpose before you spend it. Unlike traditional apps that focus on past transactions, YNAB helps users break the paycheck-to-paycheck cycle by planning ahead. You can sync bank accounts, credit cards, and loans and access the app across multiple devices. Honeydue: For Couples Honeydue is for couples looking to manage their finances together. Partners can link their bank accounts, credit cards, loans, and investments while choosing how much financial information to share. The app automatically categorizes expenses, sets spending limits, and sends alerts when
Budgeting isn’t the most exciting thing in the world, but it’s vital if you want to reach your financial goals. Whether trying to break free from the paycheck-to-paycheck cycle, saving for a dream vacation, or keeping yourself from impulse-buying, the right app can make all the difference. Thankfully, budgeting apps have come a long way, and in 2025, these top picks will help you take control of your money.
nearing a budget cap. It even includes a chat feature for discussing transactions. Best of all, it’s completely free. PocketGuard: For Overspenders If you tend to overspend, PocketGuard is an excellent solution. The app tracks your bills, savings goals, and spending habits to show how much money you have left for daily expenses. The “In My Pocket” feature helps prevent overspending by giving you a real-time look at available funds. Alerts notify you when you’re approaching or exceeding your limits. Take Control of Your Finances Whether you need a structured system like YNAB or an app to rein in spending like PocketGuard, there’s an option for everyone. Choose the app that fits your needs and start making smarter financial decisions today.
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